Is Walmart going to set the new federal minimum wage target? From what the company's CEO, Doug McMillon, told CBS's Charlie Rose, Walmart is prepared to do just that.
Walmart's had well-publicized run-ins with its employees over wages and working conditions. In the run-up to Black Friday, workers organized strikes and sit-ins that led to arrests in Los Angeles. Once again this year, Walmart failed to make Glassdoor's Top 50 Best Places to Work list.
It could be that McMillon is tired of taking the heat over a few bucks an hour.
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"We're going to make changes in a few months that will create a situation where no Walmart associate in the United States makes federal minimum wage," he told Rose. "We'll be ahead of that with our starting wage."
McMillon said that strategy will be implemented within the next year.
McMillon told Rose he believes there's a disconnect between how the public perceives Walmart as a place to work and the workplace reality. His objective is to change that perception, and he's starting by raising wages across the board within the next year.
"In the world there is a debate over inequity, and sometimes we get caught up in that, and retail does in general. But we couldn't run a good business if we don't take care of people and have compensation plans that work," he said.
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Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
